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- W259102035 abstract "Blue Ribbon Stables and Sunnydale Farms, a thoroughbred horse breeding farm, enter into a contract for sale of Handsome Charlie, a race horse. Sunnydale fully performs by delivering Charlie. Several weeks later, Sunnydale receives a check from Blue Ribbon for $500,000, an amount substantially less than $1,000,000 contract price. The check carries notation in full. Should Sunnydale: (a) deposit check as is; (b) strike in full, add notation without prejudice, and deposit check; or (c) return check to Blue Ribbon and demand full payment? If Blue Ribbon had sent check to pay for a stud fee, a service, rather than for Handsome Charlie, himself, would same course of action as to check be appropriate7 If Blue Ribbon had sent check to compensate Sunnydale for personal injury committed through negligence of a Blue Ribbon employee on owner of Sunnydale Farms, would same course of action be appropriate? In each transaction, Sunnydale either had fully performed or had no duty to perform and Blue Ribbon is attempting to discharge its duty to pay. If both Sunnydale and Blue Ribbon had outstanding duties, Blue Ribbon's attempt to discharge its duty would not involve an accord and satisfaction but rather a modification or a substitute contract. This article is limited to potential accord and satisfaction situation, that is, where payee has fully performed or had no duty to perform. to discharge a prior obligation, begins with a traditional offer, a promise for consideration. In offer for accord, drawer promises to pay payee amount stated on check as full payment in exchange for payee's promise to take this stated amount as full payment for drawer's prior While this discussion presents accord as a bilateral contract (a promise for a promise), an accord could be a unilateral contract (a promise for a performance) if consideration for drawer's promise were not the payee's promise to take stated amount as full payment of drawer's obligation but rather the payee's taking stated amount as full payment of drawer's obligation." @default.
- W259102035 created "2016-06-24" @default.
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- W259102035 date "1985-01-01" @default.
- W259102035 modified "2023-09-27" @default.
- W259102035 title "The Accord and Satisfaction and 1-207 of the UCC" @default.
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